Achillion Set to See Shares Soar

The drug firm will see fundamental progress and remains an acquisition target.

We are raising the price target on Achillion Pharmaceuticals to $22.00 from $6.00.

Our valuation is based on our assumptions for the commercialization of an Achillion (ticker: ACHN) single-tablet regimen (STR) (NS5A/NS5B/PI) in Hepatitis C virus (HCV). We use a 30% discount rate in our free-cash-flow model to derive a $22.00 price target. Our...